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Gold futures settle higher on Tuesday

29 May 2024 Evaluate
Gold futures settled higher on Tuesday, supported by the weakness in bond yield notes and on technical buying after the yellow metal plunged to two-week low rate. Moreover, caution ahead of the key PCE inflation report to gauge on Fed interest rate outlook and intensified geopolitical risks in the Middle East also kindled safe haven bullion bets.

Gold futures for August delivery up by $22.40 or 0.94% to $2379.30 per ounce on the Comex division of the New York Mercantile. While, spot gold declined by $2.83 points or 0.12% to $2,358.48 an ounce.